I consistently received “exceeds” in my performance reviews year after year. My final year I received two 6% merit increases, being told I was a valuable asset to the company. 9 months later I was laid off.
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Those over 40, I believe that is the cutoff, receive those figures to ensure it’s not age-ism for the layoff. One guy on our team was laid off so we were able to take the list and figure out the ages of most of our team lol. He was the oldest, by about 15-20 years so not sure how that proved anything.
If all this is true, what a terrible way to run a business. Layoff top talent so you don’t get sued and watch your butt. This is why I never blame people who give less than a 2 weeks notice at a company, they don’t care about you, why care about them. Sounds like a terrible business model in general, and will probably come back to bite some of these companies in the butt (sure wells isn’t the only one doing it).
Yeah I got a rate increase and wa a laid off a month later. At least I got that increase in my severance package.
On my Displacement Notification letter it just shows the age and job title of 7 people selected for displacement and then 7 age and job titles of people not selected for displacement.
Others have speculated that the company outsourced the displacement to a 3rd party company so that the decision is not subject to discrimination or favoritism from within the bank, which is plausible.
Having top performers laid off would be consistent with the layoff list being made based entirely on job title and demographic information rather than being performance based.
If you want to be safe come work for marketing.
I heard tech is affected.
If you want to be safe go into workday and identify as multi-racial and LBGTFU+
Companies hire immigration lawyers to sponsor h1b, those h1b visa sponsorships are extra layers of protection. Their application can even be several months ahead of the starting date.
And media tends to protect H1B visa workers. Our own layoffs have not been reported.
https://www.bloomberg.com/news/articles/2023-01-25/chicago-seeks-to-lure-foreign-workers-laid-off-by-tech-giants
https://news.bloomberglaw.com/daily-labor-report/state-department-plans-pilot-for-domestic-visa-renewal-this-year
https://www.bloomberg.com/news/articles/2023-03-29/tech-sector-h-1b-employees-spouses-can-work-in-us-judge-says